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    Tonga Index 2006

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    Tonga Economy - 2006
    https://theodora.com/wfbcurrent/tonga/tonga_economy.html
    SOURCE: 2006 CIA WORLD FACTBOOK

      Economy - overview:
      Tonga, a small, open, South Pacific island economy, has a narrow export base in agricultural goods. Squash, coconuts, bananas, and vanilla beans are the main crops, and agricultural exports make up two-thirds of total exports. The country must import a high proportion of its food, mainly from New Zealand. The country remains dependent on external aid and remittances from Tongan communities overseas to offset its trade deficit. Tourism is the second-largest source of hard currency earnings following remittances. The government is emphasizing the development of the private sector, especially the encouragement of investment, and is committing increased funds for health and education. Tonga has a reasonably sound basic infrastructure and well-developed social services. High unemployment among the young, a continuing upturn in inflation, pressures for democratic reform, and rising civil service expenditures are major issues facing the government.

      GDP (purchasing power parity):
      $244 million (2002 est.)

      GDP (official exchange rate):
      NA

      GDP - real growth rate:
      1.4% (FY03/04 est.)

      GDP - per capita (PPP):
      $2,300 (2002 est.)

      GDP - composition by sector:
      agriculture: 23%
      industry: 27%
      services: 50% (FY03/04 est.)

      Labor force:
      33,910 (1996)

      Labor force - by occupation:
      agriculture: 65%
      industry and services: 35% (1997 est.)

      Unemployment rate:
      13% (FY03/04 est.)

      Population below poverty line:
      NA%

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices):
      10.3% (2002 est.)

      Budget:
      revenues: $39.9 million
      expenditures: $52.4 million; including capital expenditures of $1.9 million (FY99/00 est.)

      Agriculture - products:
      squash, coconuts, copra, bananas, vanilla beans, cocoa, coffee, ginger, black pepper; fish

      Industries:
      tourism, fishing

      Industrial production growth rate:
      8.6% (FY98/99)

      Electricity - production:
      34 million kWh (2003)

      Electricity - consumption:
      31.62 million kWh (2003)

      Electricity - exports:
      0 kWh (2003)

      Electricity - imports:
      0 kWh (2003)

      Oil - production:
      0 bbl/day (2003 est.)

      Oil - consumption:
      800 bbl/day (2003 est.)

      Oil - exports:
      NA bbl/day

      Oil - imports:
      NA bbl/day

      Natural gas - production:
      0 cu m (2003 est.)

      Natural gas - consumption:
      0 cu m (2003 est.)

      Exports:
      $34 million f.o.b. (2004 est.)

      Exports - commodities:
      squash, fish, vanilla beans, root crops

      Exports - partners:
      Japan 37%, China 18.7%, US 17.7%, Taiwan 8.7%, NZ 7.4% (2004)

      Imports:
      $122 million f.o.b. (2004 est.)

      Imports - commodities:
      foodstuffs, machinery and transport equipment, fuels, chemicals

      Imports - partners:
      NZ 37.1%, Fiji 24.3%, Australia 9.1%, China 8.9%, US 6.3% (2004)

      Debt - external:
      $63.4 million (2001)

      Economic aid - recipient:
      Australia $5.5 million, New Zealand $2.3 million (FY01/02)

      Currency (code):
      pa'anga (TOP)

      Exchange rates:
      pa'anga per US dollar - NA (2005), 1.9716 (2004), 2.142 (2003), 2.1952 (2002), 2.1236 (2001)

      Fiscal year:
      1 July - 30 June


      NOTE: The information regarding Tonga on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tonga Economy 2006 information contained here. All suggestions for corrections of any errors about Tonga Economy 2006 should be addressed to the CIA.

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    https://theodora.com/wfbcurrent/tonga/tonga_economy.html

    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)


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